University of Texas Texas AM Investment Management Co. Sells 5,440 Shares of Alphabet Inc. $GOOGL

University of Texas Texas AM Investment Management Co. reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 6.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 84,036 shares of the information services provider’s stock after selling 5,440 shares during the quarter. Alphabet comprises 2.3% of University of Texas Texas AM Investment Management Co.’s holdings, making the stock its 7th largest position. University of Texas Texas AM Investment Management Co.’s holdings in Alphabet were worth $14,810,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Guardian Wealth Management Inc. boosted its stake in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares during the period. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet during the first quarter worth $28,000. von Borstel & Associates Inc. bought a new stake in shares of Alphabet in the first quarter valued at about $28,000. NBZ Investment Advisors LLC grew its stake in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. increased its position in Alphabet by 36.4% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after acquiring an additional 67 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.2%

GOOGL opened at $284.75 on Friday. The company has a market cap of $3.44 trillion, a P/E ratio of 28.08, a PEG ratio of 1.86 and a beta of 1.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average is $249.91 and its 200-day moving average is $203.28. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $291.59.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 112 shares of the business’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the sale, the director owned 18,004 shares in the company, valued at $5,253,567.20. The trade was a 0.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the transaction, the director directly owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 189,896 shares of company stock worth $44,892,175 over the last 90 days. 11.64% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Wedbush reissued an “outperform” rating and issued a $320.00 price objective (up previously from $245.00) on shares of Alphabet in a report on Thursday, October 30th. Mizuho set a $325.00 price target on Alphabet in a research note on Thursday, October 30th. Loop Capital raised their price objective on Alphabet from $190.00 to $260.00 and gave the stock a “hold” rating in a research note on Friday, October 24th. President Capital lifted their price objective on Alphabet from $258.00 to $323.00 and gave the company a “buy” rating in a report on Thursday. Finally, Rosenblatt Securities increased their target price on Alphabet from $224.00 to $279.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $304.10.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.